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Wakefit posts Rs 1,274 Cr revenue in FY25; losses widen

EntrackrEntrackr · 2d ago
Wakefit posts Rs 1,274 Cr revenue in FY25; losses widen
Medial

Home and sleep solutions brand Wakefit recorded nearly 30% year-on-year growth during the fiscal year ending March 2025. However, its net losses doubled in the same period even as it gears up for its IPO. Wakefit’s revenue from operations rose to Rs 1,274 crore in FY25 from Rs 986 crore in FY24, according to its annual financial statements filed with the Registrar of Companies (RoC). Founded in 2016, Wakefit operates as a direct-to-consumer (D2C) brand offering sleep and home solutions, including mattresses, pillows, furniture, and home improvement products. These are sold through its website, offline stores, and third-party marketplaces. Revenue from product sales forms the company’s sole source of operating income. The firm also earned Rs 31 crore from interest on deposits and profit from the sale of investments, taking its total income to Rs 1,305 crore in FY25, up from Rs 1,017 crore in FY24. The cost of materials consumed accounted for 43% of total expenses, which increased to Rs 573 crore in FY25. Employee benefit expenses grew 23% to Rs 166 crore, while legal, advertising, IT, postage, and other overheads pushed total expenditure up 29.8% to Rs 1,340 crore. The increase in advertising, postage, and employee costs widened Wakefit’s net loss to Rs 35 crore, against Rs 15 crore in FY24. Despite this, the company remained EBITDA positive at Rs 59.5 crore during the year. Its ROCE and EBITDA margin stood at 4.67% and -5%, respectively. By the end of FY25, Wakefit’s total current assets were valued at Rs 537 crore, while it spent Rs 1.05 to earn a rupee of operating revenue. Last month, the company received SEBI approval for its IPO, which includes a fresh equity issue of Rs 468.2 crore and an offer for sale (OFS) of 5.84 crore shares by promoters and existing investors. Founders Ankit Garg and Chaitanya Ramalingegowda, along with investors such as Peak XV, Verlinvest, Investcorp, Redwood Trust, SAI Global, and Paramark, are expected to partially offload their holdings through the public issue.

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Wakefit posts Rs 971 Cr revenue in 9M FY25; auditor raises concern over past financials

EntrackrEntrackr · 4m ago
Wakefit posts Rs 971 Cr revenue in 9M FY25; auditor raises concern over past financials
Medial

Wakefit, a brand specializing in home and sleep solutions, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). According to the balance, Wakefit reported a revenue of Rs 971 crore for the first nine-month period of FY25, concluding on December 31, 2024. Auditors, however, raised concerns regarding the financial statements. Wakefit’s operating revenue stood at Rs 971 crore in the nine months of FY25, nearly matching the Rs 986 crore it recorded in the entire FY24. The firm’s topline was largely driven by the sale of manufactured goods, which accounted for over 97% of its operating income, standing at Rs 951 crore. Other revenue came from the sale of traded goods and other income, which pushed its total income to Rs 994 crore in the nine months of FY25. On the expense side, cost of materials was the major contributing factor, accounting for 43% of the total expense at Rs 433 crore. Employee benefits accounted for Rs 126 crore, and the firm also spent Rs 82 crore on advertising and Rs 75 crore on delivery-related expenses during the period. Other overheads, including depreciation and IT expenses, further added to the cost base. Overall, total expenses stood at Rs 1,003 crore in the nine months of FY25, as compared to Rs 1,032 crore in FY24. Wakefit reported a loss of Rs 9 crore in the nine months of FY25, as compared to a loss of Rs 15 crore in FY24. However, the company posted a positive EBITDA of Rs 76 crore, with an EBITDA margin of 7.65% in the same period. Its ROCE stood at 1.33%. On a unit level, the company spent Rs 1.03 to earn a rupee of revenue during the 9-month period and has current assets worth Rs 577 crore, including Rs 19 crore in cash and bank balances. Looking further in the DRHP, the auditors flagged issues such as mismatches between financial records and bank filings, delayed statutory payments including GST dues under dispute, absence of an internal audit system, and cash losses over the last three fiscals. In FY24, the company’s accounting software was also found lacking the mandatory audit trail feature. While these observations didn’t require changes to its reported financials, Wakefit cautioned that similar remarks in the future could impact its reputation and financial standing. The company also revealed it uses several non-GAAP financial metrics like EBITDA, adjusted EBITDA, and return on capital employed to track performance. Wakefit noted these figures may not follow standard industry definitions and might not be comparable with those reported by peers. It urged investors not to rely solely on these supplemental measures and to consider audited financials under statutory accounting norms.

Qure.ai’s losses widen 87% to Rs 90 Cr in FY25

EntrackrEntrackr · 14d ago
Qure.ai’s losses widen 87% to Rs 90 Cr in FY25
Medial

Qure.ai, a Mumbai-based healthtech startup leveraging artificial intelligence for radiology solutions, saw its losses nearly double in the fiscal year ending March 2025, even as it clocked steady revenue growth. Qure.ai’s operating revenue grew 24.5% to Rs 175.5 crore in FY25 from Rs 141 crore in FY24, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). Qure.ai offers AI-driven solutions designed to assist radiologists and physicians in diagnosing critical conditions such as tuberculosis, lung cancer, and stroke. In the last fiscal year, sales of these tools and software contributed 86% of the company’s operating revenue, increasing by 23% to Rs 151 crore. The remaining revenue was generated from the sale of healthcare products. Geographically, the company continues to derive the bulk of its revenue from overseas markets. Revenue from outside India surged 39.6% to Rs 174 crore, forming over 99% of Qure.ai’s topline. Revenue from India, however, fell sharply by 80% to Rs 1.3 crore in FY25. In line with many tech and AI-driven companies, employee benefit expenses made up nearly 48% of overall costs, increasing to Rs 133 crore in FY25 from Rs 109 crore in FY24. Legal and professional fees climbed to Rs 37 crore, while cloud computing charges nearly doubled to Rs 18 crore. Depreciation also spiked to Rs 22 crore from Rs 12 crore a year earlier. Overall, Qure.ai’s total costs rose 39% to Rs 279 crore in FY25 from Rs 201 crore in FY24. Due to the company’s cost outpacing revenue growth, Qure.ai’s loss increased by 87.5% to Rs 90 crore in FY25 from Rs 48 crore in FY24. Its ROCE and EBITDA margin stood at -20.99% and -45.30% respectively. On a unit basis, the company spent Rs 1.59 to earn a rupee of operating revenue in FY25. The Mumbai-based company reported current assets worth Rs 406 crore in FY25 including Rs 35 crore in cash and bank balances. According to TheKredible, Qure.ai has raised a total of $121 million of funding till date, having Peak XV Partners, HealthQuad, and Novo Holdings as its lead investors. The company’s founder and CEO Prashant Warier owns 3.55% of the company.

Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25

EntrackrEntrackr · 9m ago
Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25
Medial

Fintech firm Paytm announced its financial results for the third quarter of the current fiscal year (Q3 FY25) on Monday. The Noida-based company reported revenue of Rs 1,828 crore and a net loss of Rs 208 crore for the period. According to Paytm’s unaudited consolidated quarterly report filed with the National Stock Exchange, its revenue from operations declined by 35.9% year-on-year from Rs 2,850 crore in Q3 FY24 to Rs 1,828 crore in Q3 FY25. However, on a quarter-on-quarter basis, the firm recorded a 10% increase in revenue compared to Q2 FY25 (the preceding quarter). Income from payment service revenue accounted for 55% of the total operating revenue which stood at Rs 1,003 crore in Q3 FY25 while the revenue from financial and marketing services were recorded at Rs 502 crore and Rs 267 crore in the same period. The company also added Rs 189 crore from other non-operating sources, bringing its overall revenue to Rs 2016.5 crore in Q3 FY25. For the fintech firm, its employee benefits remained the largest cost center accounting for 34% of the overall cost which decreased by 36% to Rs 756 crore in Q3 FY25. This includes Rs 182 crore as ESOP cost (non-cash). Its payment processing charges and marketing costs were reduced by 42% and 48.7% to Rs 570 crore and Rs 141 crore respectively in Q3 FY25 from Rs 982 crore and Rs 275 crore in Q3 FY24. Software, communication, legal, cashback, and other overheads took the total expenditure to Rs 2,220 crore in Q3 FY25 from Rs 3,216 crore in Q3 FY24. A reduction across all overhead departments enabled Paytm to narrow its losses by 6.3% to Rs 208 crore in Q3 FY25 from Rs 222 crore in Q3 FY24.

Swiggy posts Rs 4,410 Cr revenue in Q4 FY25, Instamart grows 115%

EntrackrEntrackr · 6m ago
Swiggy posts Rs 4,410 Cr revenue in Q4 FY25, Instamart grows 115%
Medial

Swiggy posts Rs 4,410 Cr revenue in Q4 FY25, Instamart grows 115% Foodtech and quick commerce major Swiggy has managed a 45% year-on-year growth in its operating revenue which spiked to Rs 4,410 crore during Q4 FY25 as compared to Rs 3,045 crore in Q4 FY24. However, the Bengaluru-based company’s losses surged 95% in the same period. Swiggy’s food delivery business continues to be a major contributor, accounting for 37% of the total collection in Q4 FY25. Revenues from this vertical grew 18% to Rs 1,629 crore from Rs 1,375 crore in Q4 FY24. The company’s quick commerce segment also saw remarkable growth, with revenue surging by 115% to Rs 689 crore in Q4 FY25 from Rs 320 crore in Q4 FY24. The segment's gross order value (GOV) growth was driven by an increase in order frequency and the addition of new dark stores. Scootsy Logistics contributed a major 45% of Swiggy’s overall operating collection. Income from this entity increased by 58% YoY to Rs 2,004 crore in Q4 FY25 from Rs 1,265 crore in Q4 FY24. During the last quarter, Swiggy invested Rs 1,000 crore in Scootsy to support expansion and growth. Swiggy’s Dine Out, Genie, Swiggy Mini, and other non-operating income took its total revenue to Rs 4,531 crore in Q4 FY25. For the full fiscal year ending March 2025, Swiggy’s revenue rose 35% to Rs 15,227 crore in FY25 from Rs 11,247 crore in FY24. On the cost side, the procurement of FMCG products for supply chain distribution formed 33% of its overall cost which increased by 52% to Rs 1,854 crore in Q4 FY25. Meanwhile, the delivery charges saw 27% growth to Rs 1,161 crore in Q4 FY25. Swiggy spent Rs 695 crore and Rs 978 crore on employee benefits and advertising, respectively. Overall, Swiggy’s total expenses for the quarter increased 53% to Rs 5,609 crore from Rs 3,668 crore in Q4 FY24. On a fiscal-on-fiscal year basis, its total expenses increased to Rs 18,725 crore in the quarter ending March 2025 from Rs 13,947 crore in FY24. The 53% growth in expenditure led losses to increase by 95% to Rs 1,081 crore in Q4 FY25 from Rs 555 crore in Q4 FY24. On a fiscal-on-fiscal basis, Swiggy’s losses spiked 33% to Rs 3,117 crore in FY25 from Rs 2,350 crore in FY24.

Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28%

EntrackrEntrackr · 1m ago
Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28%
Medial

Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28% Used car retailer Spinny posted a steady performance in FY25 with notable top-line growth and narrowing losses. The Gurugram-based company’s revenue from operations jumped 25% year-on-year to Rs 4,657 crore, up from Rs 3,730 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Spinny primarily generates its revenue from used car sales, accounting for 97.7% of its operating income (Rs 4,553 crore) from this segment, marking a 25.7% YoY rise during FY25. The balance came from commissions, support services, and advertising. Beyond operations, the company booked Rs 89 crore in non-operating income from interest on deposits, corporate bonds, mutual fund gains, and fair value adjustments. This pushed its total income to Rs 4,746 crore in FY25 from Rs 3,822 crore in FY24. For the used car retailer, the cost of procuring cars was naturally the largest cost center, accounting for 83.3% of the overall cost. In line with a 25% revenue surge, this cost grew 23% to Rs 4,309 crore in FY25. The firm cut its employee benefits by 13.8% to Rs 338 crore in the said year. Spinny’s direct cost stood at Rs 147 crore while its advertising and promotion costs reduced by 11.3% to Rs 125 crore in FY25. Other overheads, including information technology, legal, travelling, and rent, took the total cost to Rs 5,170 crore in FY25. The decent growth in its revenue helped Spinny to cut down its losses by 28.3% to Rs 423 crore in FY25 from Rs 590 crore in FY24. The company has also improved its per unit expense to revenue ratio in FY25, which was recorded at Rs 1.11. In March this year, the company closed $170 million round this year led by Accel Leaders Fund. According to startup data intelligence platform TheKredible, Spinny has raised around $676 million to date, including investors like Tiger Global, Accel, Elevation Capital, and others. The company expanded its portfolio by acquiring Autocar India, an auto media and car content platform, and started its own NBFC subsidiary.

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%

EntrackrEntrackr · 9m ago
FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%
Medial

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70% Brainbees Solutions, the parent company of kids-focused omnichannel retailer FirstCry, has released its Q3 FY25 today. The report highlights sound financial growth, with a 14.3% year-on-year growth in scale and controlled losses by 70%. FirstCry's revenue from operations grew to Rs 2,172 crore in Q3 FY25 from Rs 1,900 crore in Q3 FY24, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 82% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 422 crore. The company also made Rs 44 crore from interest income which took its overall revenue to Rs 2,217 crore in Q3 FY25, compared to Rs 1,936 crore in Q3 FY24. For the omnichannel retailer, the cost of procurement of materials accounted for 66% of the overall expenditure which increased 17% year-on-year to Rs 1,451 crore in Q3 FY25 from Rs 1,239 crore in Q3 FY24. FirstCry’s employee benefits stood at Rs 177 crore in Q3 FY25 which includes Rs 28 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 2,210 crore in Q3 FY25 from Rs 1,978 crore in Q3 FY24. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 70% to Rs 15 crore in the last quarter. Notably, the company reported a positive EBITDA of Rs 152 crore. As of the last trading session, FirstCry’s share price stood at Rs 419 per share, with a total market capitalization of Rs 21,753.8 crore (approximately $2.5 billion).

Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%

EntrackrEntrackr · 5m ago
Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%
Medial

Electric two-wheeler maker Ather Energy has announced its financial results for the fourth quarter of FY25. The company reported a 29% year-on-year jump in its operating revenue compared to Q4 FY24. Ather’s revenue from operations increased by 29% to Rs 676 crore in Q4 FY25, from Rs 523 crore in Q4 FY24, according to its consolidated quarterly report sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), Ather Energy’s operating revenue increased 29% to Rs 2,255 crore in FY25 from Rs 1,754 crore in FY24. The company’s cost of materials, driven primarily by battery and component procurement, increased by nearly 16% to Rs 564 crore in Q4 FY25 from Rs 488 crore in the same period last year. Employee benefit expenses saw a decline of 29% YoY to Rs 109 crore in Q4 FY25 compared to Rs 154 crore in Q4 FY24. Depreciation and amortization costs rose 18% to Rs 45 crore, while other operational costs jumped nearly 47% to Rs 204 crore. Overall, Ather’s total expenditure grew 13% to Rs 922 crore in Q4 FY25, up from Rs 819 crore in Q4 FY24. For the full financial year ending March 2025, total expenses rose to Rs 3,117 crore as against Rs 2,674 crore in FY24. As a result, the company’s net losses reduced by 17% to Rs 234 crore in Q4 FY25 from Rs 283 crore in Q4 FY24. On a fiscal basis, its net losses came down 23% to Rs 812 crore in FY25 from Rs 1,060 crore in FY24. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSE—2.18% above its issue price of Rs 321. However, the stock closed the day at Rs 300. On Monday, it rose 2.8% to trade at Rs 308.7 before market close, bringing its total market capitalization to Rs 11,497 crore ($1.34 billion). Ather's competitor Ola Electric, which saw a nearly 20% decline in operating revenue during Q3 FY25, has yet to file Q4 results.

Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat

EntrackrEntrackr · 3m ago
Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat
Medial

Ather Energy posts Rs 645 Cr revenue in Q1 FY26, losses remain flat Ather Energy reported a 79% year-on-year jump in its operating revenue compared to Q1 FY25. At the same time, the Bengaluru-based firm also narrowed losses by 3%. Electric two-wheeler maker Ather Energy has announced its financial results for the first quarter of the ongoing financial year FY26. The company reported a 79% year-on-year jump in its operating revenue compared to Q1 FY25. At the same time, the Bengaluru-based firm narrowed losses by 3%. Ather’s revenue from operations increased by 79% to Rs 645 crore in Q1 FY26, from Rs 360 crore in Q1 FY25, according to its quarterly report sourced from the National Stock Exchange (NSE). The Tarun Mehta-led company did not provide a revenue breakdown during the last quarter. Ather’s cost of materials, primarily driven by battery and component procurement, made up the largest share of its expenditure. This cost increased by nearly 74% to Rs 518 crore in Q1 FY26 from Rs 297 crore in the same period last year, accounting for over 61% of the total expenses during the quarter. Employee benefit expenses saw a surge of 37% YoY to Rs 119 crore in Q1 FY26 compared to Rs 87 crore in Q1 FY25. Depreciation and amortization costs rose 20% to Rs 48 crore, while other operational costs jumped nearly 31% to Rs 166 crore. Overall, Ather’s total expenditure grew 54% to Rs 851 crore in Q1 FY26, up from Rs 551 crore in Q1 FY25. As a result, the company’s net losses reduced by 3% to Rs 178 crore in Q1 FY26 from Rs 183 crore in Q1 FY25. In July 2025, Ather Energy maintained its fourth-place market position, selling 16,231 units. This represents a 10.59% month-on-month increase from the 14,677 units sold in June, bringing their market share to 15.78%. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSE. However, the stock is currently trading at Rs 375, bringing its total market capitalization to Rs 13,723 crore ($1.5 billion). Ather competitor Ola Electric’s topline shrank by nearly 50% year-on-year during the first quarter of FY26. At the same time, the Bengaluru-based firm’s losses widened by 23%.

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